The Goldman Sachs Group, Inc. (GS Quick QuoteGS - Free Report) entered into an agreement to acquire Industry Ventures, a leading venture capital platform that invests across all stages of the venture capital lifecycle. The move underscores Goldman’s strategic intent to expand its exposure to the innovation economy and further solidify its position in the global alternatives market.

Founded in 2000, Industry Ventures manages $7 billion in assets under supervision and has made over 1,000 primary and secondary investments.

Details of Goldman’s Deal & Financial Terms

Per the agreement, Goldman will acquire 100% of the equity of Industry Ventures. The total consideration will include $665 million in cash and equity payable at closing, along with up to $300 million in contingent consideration based on the company’s performance through 2030.

The deal has been approved by both companies’ boards of directors and is expected to close in the first quarter of 2026, subject to regulatory approval and customary conditions.

Upon completion, all 45 employees of Industry Ventures will join Goldman. Hans Swildens, founder and CEO of Industry Ventures, along with senior managing directors Justin Burden and Roland Reynolds, will become partners within Goldman Sachs Asset Management.

GS’s Rationale Behind the Planned Acquisition

The planned acquisition of Industry Ventures underscores Goldman’s strategic intent to strengthen its position in private markets and expand access to high-growth technology companies for clients globally. Notably, the deal is a well-thought-out step in Goldman’s long-term strategy to strengthen its $540 billion alternatives business, which spans private equity, growth capital, infrastructure, credit and real estate.

Industry Ventures will become part of GS’s External Investing Group, which manages over $450 billion across traditional and alternative strategies. The addition of Industry Ventures’ venture capital expertise and secondary market capabilities will broaden Goldman’s offerings across co-investments, GP stakes and tech-driven private market solutions.

The planned acquisition will likely strengthen Goldman’s ability to support technology entrepreneurs through integrated, end-to-end financial solutions. Building on its longstanding leadership in global wealth management and its market-leading TMT investment banking franchise, GS will combine Industry Ventures’ venture capital expertise with its own scale in investment, lending and advisory services, offering a unified platform that supports companies and investors across every stage of growth.

David Solomon, chairman and CEO of Goldman Sachs, stated, “Industry Ventures pioneered venture secondary investing and early-stage hybrid funds, areas that are rapidly expanding as companies stay private longer and investors seek new forms of liquidity,” Solomon further added, “Industry Ventures’ trusted relationships and venture capital expertise complement our existing investing franchises and expand opportunities for clients to access the fastest growing companies and sectors in the world."

GS’s Prior Efforts to Expand in Private Markets

The company has been consistently strengthening its private markets platform through strategic partnerships and internal initiatives. In September 2025, the company partnered with T. Rowe Price Group, Inc. in a $1 billion collaboration to co-develop retirement and wealth products. The partnership was later expanded to introduce alternative investment offerings for high-net-worth clients by the end of 2025 and for retirement savers in 2026.

Earlier in January 2025, GS launched several initiatives to accelerate growth in its alternatives business, including the formation of a Capital Solutions Group and the expansion of its private credit and asset management teams. The firm’s Asset Management division also outlined plans to grow its private credit portfolio to $300 billion by 2029, supported by international expansion across Europe, the U.K. and Asia.

Additionally, it intends to ramp up its lending services to private equity and asset managers, with management expecting high single-digit annual growth in private banking and lending revenues over the long term.

GS’s Price Performance & Zacks Rank

Over the past year, GS shares have soared 50.5% compared with the industry’s 35.2% rise.

Image Source: Zacks Investment Research

Currently, the company carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Acquisition by Other Finance Firms

Earlier this month, Rocket Companies, Inc. (RKT Quick QuoteRKT - Free Report) completed the acquisition of Mr. Cooper Group Inc. in terms of a $14.2 billion all-stock transaction. As a result of the acquisition, the combined company is expected to serve nearly 10 million clients, managing a $2.1 trillion unpaid principal balance, which represents roughly one in every six mortgages across the country.

The combination unites Mr. Cooper’s servicing operations with RKT’s scale in mortgage origination and its growing real estate and technology platform. Together, the companies will create a comprehensive homeownership ecosystem spanning mortgage origination, servicing, real estate search, title and closing.

Similarly, last week, Franklin Resources, Inc. (BEN Quick QuoteBEN - Free Report) , a global investment management company operating as Franklin Templeton, announced the closure of its acquisition of Apera Asset Management, a pan-European private credit firm.

The acquisition broadened BEN’s global alternative platform and enhanced its direct lending capabilities throughout Europe’s expanding lower middle market.